Article 5 Charges of registered land

Subject to paragraphs (5) and (6), and to article 6 (large scale applications, etc.), the fee for an application for the registration of a charge shall be paid in accordance with Scale 3 in Schedule 3 on the amount of the charge determined in accordance with article 9.

Subject to article 6 (large scale applications, etc.), the fee for an application for the registration of:

shall be paid in accordance with Scale 3 in Schedule 3 on the amount or value of the consideration.

Subject to article 6 (large scale applications, etc.) and to paragraph (7) of Schedule 5 (applications to which section 145(2) of the Act applies), the fee for an application for the registration of the transfer of a registered charge otherwise than for monetary consideration shall be paid in accordance with Scale 2 in Schedule 2 on the amount secured by the registered charge at the time of the transfer or, where the transfer relates to more than one charge, the aggregate of the amounts secured by the registered charges at the time of the transfer.

Subject to article 6 (large scale applications, etc.) and to paragraph (7) of Schedule 5 (applications to which section 145(2) of the Act applies), the fee for an application for the registration of a transfer for the purpose of giving effect to the disposition otherwise than for monetary consideration of a share in a registered charge shall be paid in accordance with Scale 2 in Schedule 2 on the equivalent proportion of the amount secured by the registered charge at the time of the transfer or, where the transfer relates to more than one charge, the equivalent proportion of the aggregate of the amounts secured by the registered charges at the time of the transfer.

Subject to paragraph (6), where, on an application to which article 2 or 3 applies (“the primary application”), a charge by the applicant or by a predecessor in title of the applicant (in the case of first registration) or by the transferee (in the case of a transfer or exchange) is delivered either with the primary application or before the primary application is completed, no fee shall be payable for the registration of the charge.

Where a charge to which paragraph (5) applies also comprises registered land (“the additional land”) which is not the subject of the primary application, paragraph (5) shall not extend to the additional land so that there shall be paid a fee in accordance with Scale 3 in Schedule 3 on an amount calculated in accordance with the following formula:

where

• A is the amount on which the fee is payable, V_A is the value of the additional land, V_C is the value of all the land comprised in the charge and C is the amount of the charge determined in accordance with article 9.